28.09.2010

Terex seeks credit amendment

Terex is seeking an amendment to its bank credit facility in order to lift some of the more restrictive covenants and provide greater flexibility for the use of the proceeds from the sale of its mining business earlier this year.

The proposed amendment will improve the company’s ability to prepay, redeem or repurchase debt, and make acquisitions. Following approval of the amendment,

Terex would prepay 100 percent of the outstanding principal amount of its term loans under the credit facility of approximately $270 million.